@Nipsey_X You have some homework to do. First, understand that the typical DoorDash delivery person is an independent contractor. That means the IRS considers you to be self-employed. DoorDash will not withhold any tax from your pay, so you will be paying all of the Social Security and Medicare yourself as well as ordinary income tax.
Do some googling to see how much the average DoorDash deliverer makes in your area----and how many hours they work to earn their incomes. It can vary widely depending on where you are. There are a number of sites you can find online with information about realistic income expectations for delivery driving, rideshare driving, etc.
When you say you will procure a "personal loan" what do you mean by that? Is a family member loaning you money to buy a car?
As for car insurance---have you done some research to see how much it will cost you to have insurance---especially if you are a delivery driver? You say that you are about to get a driver's license----so your rates as a new driver may be higher than you anticipate.
If you go forward with your plans:
https://ttlc.intuit.com/questions/2903027-how-do-i-report-income-from-self-employment
https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922
https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax
https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c
https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct
https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs
Do some research---then good luck with your plans!
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
